Gold Up a Fifth-straight Week; Silver Scores 10% Weekly Gain

Gold futures settled higher on Friday to tally a fifth weekly gain in a row, buoyed by a weaker U.S. dollar and strong demand for assets considered less risky in the wake of the U.K.'s vote last month to leave the European Union. Silver futures also rallied to see their largest weekly gain in almost 3 years. Gold for August delivery rose $18.40, or 1.4%, to settle at $1,339 an ounce. Futures prices were up 1.3% for the week and marked their highest settlement since July 10, 2014, according to FactSet data. September silver rose 96.5 cents, or 5.2%, to settle at $19.588 an ounce. It was up 10.1% for the week.

Copyright © 2016 MarketWatch, Inc.